Start with your business, not the headline rate
Before asking for quotes, write down how you take payments: in person, online, over the phone or through recurring billing. Gather a representative month of card turnover, transaction count and average sale value. Include seasonal peaks if they affect your business.
Tell providers about your mix of domestic, international and commercial cards. A quote based on a different card mix can be misleading.
Ask everyone for the same breakdown
Request the percentage fee, fixed transaction fee, monthly charge and any differences by card type or payment channel. Ask about terminal rental, gateway fees, minimum charges, refunds and chargebacks. For interchange++ pricing, request an estimated total using your card mix.
Keep VAT treatment consistent when comparing quotes. Ask how tax applies to individual services if it is not clear.
Compare the full contract
Check the contract length, notice period, renewal terms and any early termination charges. Hardware rental may have its own agreement. Confirm whether quoted pricing is introductory and how the provider can change it.
Ask about settlement times, reserves and account reviews. Access to your funds can matter as much as a small difference in transaction fees.
Test the everyday experience
Check whether the provider connects to your till, accounting software or online shop. Review reporting, refund handling and support hours. If you rely on a terminal, ask what happens when it fails or the internet goes down.
Make the numbers comparable
Enter the same transaction count and average sale value for both providers in RateIQ. Compare the estimated monthly and annual costs, then account for additional charges and switching costs separately.
Confirm the final terms in writing before signing. The lowest estimated processing cost is useful information, but service, integrations and contract flexibility also deserve a place in your decision.